Environment Agency Pension Fund, Bristol, England, committed £60 million ($74.8 million) to Permira Credit Solutions III, said Mark Mansley, chief investment officer at the pension fund.
A search was launched in August. Consultant bfinance assisted the pension fund, which has just more than £3 billion in assets.
“We were impressed by their focus on senior loans with moderate leverage, their track record and their organizational commitment to responsible investment,” Mr. Mansley said in an e-mail.
The EAPF has a 5% strategic allocation to private debt.